Activist Elliott builds over $2.5 billion stake in Phillips 66, WSJ reports
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Activist Elliott Investment Management has acquired a stake exceeding $2.5 billion in Phillips 66, aiming to advocate for operational changes to enhance the company's stock value.
February 11, 2025 | 2:30 am
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Elliott Investment Management has acquired a significant stake in Phillips 66, valued at over $2.5 billion, and intends to push for operational changes to increase the company's stock price.
Elliott Investment Management's large stake in Phillips 66 suggests a strong influence on the company's future decisions. Activist investors typically push for changes that can lead to increased stock prices, indicating a positive short-term impact on PSX's stock.
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